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Trading volume in Ukrainian crypto exchange Kuna has more than tripled by Friday since Russia invaded the Eastern European nation, according to CoinGecko data.
The 24-hour trading volume at Kuna was at around US$1.5 million on Thursday morning Asia time, but now sits just under US$5 million, as of press time.
Bitcoin is currently trading at a 7% premium at the Ukrainian exchange, indicating local demand outpacing available supply since the attacks.
Bitcoin is currently trading at US$41,554 at the Ukrainian exchange, US$2,821 higher than the global price of US$38,733.
Bitcoin price jumped in Kuna overnight after Russian President Vladimir Putin declared a “special military operation” for the “demilitarization and de-Nazification of Ukraine.”
The market is seeing some recovery on Friday after a steep Thursday selloff on the news of Russia’s military operation, as Terra leads the way with an 18% surge.
See related article: Why India’s Bitcoin premium is now higher than South Korea’s.